If velocity is 6 and the quantity of money is $2 trillion, what is nominal GDP?
A) $12 trillion
B) $6 trillion
C) $3 trillion
D) $333 billion
Correct Answer:
Verified
Q401: The quantity theory asserts that real GDP
Q404: According to the quantity theory of money
A)
Q411: The equation of exchange becomes the same
Q412: If M = $100, Y = $500
Q414: If real GDP is $10 trillion and
Q415: The equation of exchange states that the
Q416: If V = 5, P = $3,
Q417: The quantity theory of money addresses the
A)
Q418: The quantity theory of money asserts that
Q419: The equation of exchange
A) is MV =
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents